Bank of Montreal Can Has $11.56 Million Position in MGM Resorts International (NYSE:MGM)

Bank of Montreal Can grew its holdings in MGM Resorts International (NYSE:MGM) by 10.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 291,880 shares of the company’s stock after buying an additional 27,883 shares during the quarter. Bank of Montreal Can’s holdings in MGM Resorts International were worth $11,564,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in MGM Resorts International in the 2nd quarter valued at about $28,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of MGM Resorts International in the third quarter valued at approximately $28,000. EverSource Wealth Advisors LLC raised its position in MGM Resorts International by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after purchasing an additional 329 shares during the last quarter. Eastern Bank acquired a new position in MGM Resorts International during the 3rd quarter worth $35,000. Finally, UMB Bank n.a. boosted its position in MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after buying an additional 237 shares during the last quarter. 68.11% of the stock is owned by institutional investors.

MGM Resorts International Stock Performance

MGM stock opened at $38.34 on Monday. MGM Resorts International has a 1-year low of $33.44 and a 1-year high of $48.24. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The firm has a market cap of $11.42 billion, a PE ratio of 13.69, a P/E/G ratio of 2.74 and a beta of 2.23. The business’s 50-day moving average price is $38.70 and its two-hundred day moving average price is $39.60.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The business had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter last year, the firm earned $0.64 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, research analysts forecast that MGM Resorts International will post 2.5 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barclays dropped their target price on MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Mizuho cut their target price on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company lowered their price target on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. JMP Securities cut their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating on the stock in a report on Monday, November 25th. Finally, Truist Financial lowered their target price on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.85.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of MGM Resorts International stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the sale, the director now owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. This trade represents a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.13% of the company’s stock.

MGM Resorts International Profile

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.